SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 1)
LENNAR CORPORATION
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(Name of issuer)
COMMON STOCK
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(Title of class of securities)
526057104
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(CUSIP number)
STUART MILLER, 700 NORTHWEST 107TH AVENUE, MIAMI, FLORIDA 33172
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(Name, address and telephone number of person authorized to receive notices and
communications)
SEPTEMBER 13, 1996
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1 (b)(3) or (4), check the following box
<square>.
Check the following box if a fee is being paid with the statement
<square>. (A fee is not required only if the reporting person: (1) has a
previous statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent or
less of such class.) (See Rule 13d-7.)
NOTE. Six copies of this statement, including all exhibits, should
be filed with the Commission. SEE Rule 13d-1 (a) for other parties to
whom copies are to be sent.
(continued on following pages)
(Page 1 of 4 Pages)
<PAGE>
<PAGE>
CUSIP No. 525057104 PAGE 2 OF 5 PAGES
<TABLE>
<CAPTION>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
L.M. GRAT
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP{*} (a) <square>
(b) <checked-box>
3 SEC USE ONLY
4 SOURCE OF FUNDS{*}
00
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
<square>
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
NUMBER OF 7 SOLE VOTING POWER
0
SHARES
8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY 9 SOLE DISPOSITIVE POWER
0
EACH
10 SHARED DISPOSITIVE POWER
REPORTING 0
PERSON WITH
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,275,000 shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES{*} <square>
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.16%
14 TYPE OF REPORTING PERSON*
00
</TABLE>
{*}SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 526057104 PAGE 3 OF 4 PAGES
This Amendment No. 1 to the Schedule 13D originally filed on October 14,
1994 by L.M. GRAT amends the following Item of that Schedule 13D as follows:
ITEM 5. INTEREST IN SECURITIES OF ISSUER.
The first paragraph of Section a) of this Item is amended to state the
following:
a) Because of the Trust's ownership of a limited partnership interest in
the Partnership, the Trust may be deemed to have an indirect interest in
95% of the 4,500,000 shares of Common Stock issuable upon conversion of
the Class B Common Stock held by the Partnership. Therefore, the Trust
may be deemed to have an indirect interest in 4,275,000 shares of Common
Stock, which would be equal to 14.16% of the Common Stock.
Section c) of this Item is amended to state the following:
c) On September 30, 1994, Leonard Miller contributed 3,500,000 shares of
Class B Common Stock, which may be converted at any time into 3,500,000
shares of Common Stock, to the Partnership. Of these, 3,275,000 shares
(subject to adjustment) were contributed in exchange for a limited
partnership interest which gives the holder an approximately 95% interest
in the Partnership's earnings and assets. Mr. Miller, as settlor of the
Trust, then contributed the limited partnership interest to the Trust. On
September 13, 1996, Mr. Miller contributed an additional 1,000,000 shares
of Class B Common Stock, which may be converted into 1,000,000 shares of
Common Stock, to the Partnership.
<PAGE>
CUSIP No. 526057104 PAGE 4 OF 4 PAGES
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Amendment is true, complete and
correct.
OCTOBER 9, 1996
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(Date)
/S/ STUART MILLER
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Stuart Miller, as Trustee of L.M. GRAT
